- Globalstar (NYSEMKT:GSAT) looks to be part of a short squeeze -- up 16.5% premarket, following on a big gain late Friday, after the company says that the FCC chairman's office informed it of an order circulated in Docket No. 13-213.
- That means the agency is recommending approving Globalstar's Terrestrial Low-Power Service spectrum for Wi-Fi use, the company said.
- Such an order comes in advance of action from the full commission, but the service has been pending before the agency for years.
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